The Charities Aid Foundation, West Malling, England, and its banking subsidiary, CafCash Ltd., hired Midland Securities Services as custodian for £150 million ($232.5 million) in U.K. assets.
CafCash is a short-term fund for some 2,800 charities that invest assets with the foundation. The foundation also offers an equity and a bond fund to customers. Total foundation assets as of April 30 were £427 million ($662 million), of which £174 million are run by CafCash
